Suntech Powers On In China

 

Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest crystalline solar panel manufacturer, has announced a string of major solar farm projects in China recently.
 
A couple of weeks ago, the company unveiled a number of strategic agreements with  Shaanxi , Shizuishan, Qinghai and Panzhihua local governments to develop 300MW, 500MW, 500MW and 500MW of solar projects respectively. These projects, totalling 1.8GW, are expected to be developed in several stages.
 
Suntech announced last week the company as inked an agreement with China Huadian New Energy Development Co., Ltd. (HNE) to develop a total of 500MW of utility-scale and commercial roof-top solar farm projects in China's western provinces over the next three years.
 
The company also recently entered into a strategic agreement with China Energy Conservation Investment Corporation (CECIC) to develop solar projects over the next five years.
 
Yet another recent feather in Suntech's cap was the news its Chairman and Chief Executive Officer, Dr. Zhengrong Shi, received the 2009 World Technology Award for Energy for his innovative work to develop solar technology and promote the adoption of solar energy.
 
After a somewhat roller coaster year on the markets, China’s massive new solar incentive program that provides up to 50% government funding on new solar farms has given shares in Suntech and other China-based solar panel manufacturers a major boost and provided an influx of local contracts for the companies. Suntech shares have been up by as much as 50% as a result of China's increased drive towards a renewable energy future and are expected to continue to perform strongly.
 

UK Moving Towards Gross Solar Feed In Tariffs

 

The UK has a goal of achieving an 80% reduction in carbon emissions by 2050 and the 2009 EU Renewable Energy Directive sets a binding target of achieving 20% of the EU’s energy consumption from renewable sources by 2020. The UK’s share of the EU target commits the country sourcing 15% of its electricity via renewable energy by that year.
 
In a step closer to rolling out feed in tariffs for small scale renewables in the UK, the British Government has released a document (PDF) entitled "Consultation on Renewable Electricity Financial Incentives 2009".
  
In the foreword, Minister of State for the Department of Energy and Climate Change, the Rt Hon Lord Hunt of Kings Heath OBE, states that "feed-in tariffs will open up renewable energy generation beyond the traditional energy companies. It will enable communities to come together and invest in generating renewable electricity. It will make it easier for householders and business to finance their own electricity generation. It will help us all play our part in renewing our electricity supply."
 
Lord Hunt believes that while climate change is a threat, tackling it brings the opportunity of creating a new green economy and that feed in tariffs will provide the financial framework for ensuring that opportunity is realised.
 
The UK is considering a gross feed in tariff model that pays a premium price for every kilowatt generated by a system. In Australia, the most common program, with the exception of the ACT, is based on a net model where only surplus electricity exported to the mains is paid the premium rate. While net feed in tariffs do help boost solar uptake, it has nowhere near the positive effect of gross feed in tariffs.
 
Under the UK program, owners of home solar power systems would receive up to AUD 62 cents per kilowatt hour generated, guaranteed for 25 years.
 
The UK feed in tariff program is expected to commence in April 2010
 

News for Monday 27 July, 2009

 

• World's Largest Rooftop Solar Farm For Italy
  

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